Masthaven Secured Loans has announced changes to its product range.
It has made rate reductions of up to 0.80 reductions, with buy-to-let rates now starting at 11.75%.
The lender has also increased its maximum loan amounts, with the loan maximum on buy-to-let increased to £80,000.
“We have been delighted by the response from the market since our launch, and can now repay some of that trust in our ability to deliver by extensively enhancing our product range,” said Stuart Aitken (pictured), chief operating officer (COO), Masthaven Secured Loans.
“These developments clearly demonstrate that MSL aims to be a substantial provider of secured loans to the market, and we look forward to building great relationships with our broker partners through what promises to be a very positive 2013.”
Great news. The increased loan sizes on buy-to-let second charges is a real injection for the market. There are a lot of landlords out there who have properties in need of a bit of refurbishment and they have been restricted in the amount they can borrow to do this up to now. It will also give landlords a better opportunity to release equity from their portfolios to expand.